Rates for 5-year fixed products now start from 2.94%, down from 3.04%, with the most significant reduction seen at 75% loan-to-value (LTV), with rates reduced by 0.15 to 3.09%.

MPowered Mortgages has also released a new range of 7-year fixed rate products, starting from 3.04%. The 7-year fixed rate products are now available at 50, 60, 70 and 75% LTV borrowing options, and include a free valuation.

MPowered Mortgages is offering free valuations across all limited-edition products, including on HMO properties and on purchases. All products come with a 1.5% fee.

Emma Hollingworth, distribution director at MPowered Mortgages, said: “We are excited to launch this new limited-edition range of products, expanding our extensive product offering.

“With the next Bank of England Bank Rate decision to be announced in December, our new range of five, and 7-year fixed rate mortgages will be attractive to prospective home buyers and those looking to remortgage.”